China‘s rise as a financial dragon can be attributed to the incorporation of Hong Kong in 1997. Despite an initial financial slump, Hong Kong’s relative autonomy rejuvenated the Chinese economy in the years since then.
And now, in the middle of a bear market crisis in China, Hong Kong is once again in control of the game.
According to Bloomberg:
“Money is flowing out of Hong Kong, one of the world’s most open economies, as China’s growth slows to the weakest pace since 1990 and speculators bet on an end to the city’s currency peg to the dollar. The capital outflows are pushing up interbank borrowing rates, heightening concern that higher financing costs will weigh on the city’s banking and real estate industries.”
Why is Hong Kong important to the domain investor economy as well?
Several months ago, a group of Hong Kong fund managers leveraging sizable funds started the LLLL .com trading game, acquiring large portfolios of LLLL .com domains and began trading the assets among themselves.
Soon, the impression that somehow the Chinese show interest in the “random” combinations of letters with development in mind, gave birth to an artificial, multi-faceted market of “chips.”
Hong Kong – Where the LLLL .com trading game started.
On a daily basis, we keep track of short domain sales in China, involving 2, 3 and 4 characters. Some data is extracted from BenMi.com.
Here are today’s domain names:
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cqp.cn
gfq.cn
gqt.cn
kfp.cn
kwf.cn
kwq.cn
lhf.cn
lkf.cn
pbz.cn
pwh.cn
qfh.cn
qpt.cn
tqg.cn
yxg.cn
zkq.cn
bzf.com
bzg.com
bzj.com
grk.com
jyb.com
mjq.com
mtf.com
rxx.com
xqn.com
xzh.com
dkgt.com
hfcq.com
With such a big buying of LLL.coms everyday and given the limited number (17,576) of LLL.coms, I am wondering how many LLL.coms will be left available for trade. I guess remaining LLL.coms will be skyrocketing.
It would be great if you could provide more information regarding these “Hong Kong fund managers”